To work together, across party lines, to agree carbon budgets in accordance with the Climate Change Act.

To accelerate the transition to a competitive, energy efficient low carbon economy and to end the use of unabated coal for power generation.

This agreement comes after commentators have questioned UK political commitment to climate action, and business investors have asked for more certainty about the UK’s low carbon direction. The cross-party agreement includes commitments to seek a strong global climate deal and to end the use of unabated coal in power generation.

This year is a pivotal one for climate change negotiations which run throughout 2015 and culminate in the December Paris summit. Today’s statement highlights the contrast between the UK and countries where climate change is a deeply partisan issue such as the US, Australia and Canada.

The agreement has been widely welcomed across the political spectrum and from business leaders:

Former vice president of the USA, Al Gore, said:

“This agreement represents inspiring leadership and true statesmanship by all three men. The political courage it represents on all sides is exactly what our world most needs in order to solve the climate crisis. Thank you! Thank you! And thank you!”

Lord Howard of Lympne, former leader of the Conservative Party, said:

“I welcome this cross-leader agreement which will send a signal to our partners around the world that the UK is serious about our responsibilities as stewards of the environment.”

Marylyn Haines Evans, chair of Public Affairs Committee of the National Federation of Women’s Institutes, said:

“With nearly three quarters of British women saying that tackling climate change cannot be left to future generations, the global leadership shown by the three main UK parties today is a vital step towards making a real difference for future generations, something that’s a real priority for WI members.”

Paul Polman, CEO of Unilever, said:

“The importance of this pledge cannot be overstated. In this critical year, both for the international climate change negotiations and the agreement of the sustainable development goals, this statement of cross-party recognition of the importance of climate action, as well as support for a legally binding global deal, sets a terrific example for other countries to follow.”

Mark Wilson, Group CEO, Aviva plc, said:

“As insurers and investors, we are well used to thinking about sustainability in the long term. This statement represents political leadership on a key issue at a crucial time.”

Lord Ashdown of Norton-sub-Hamdon, former leader of the Liberal Democrats, said:

“Consensus is a rare thing in British politics, but this makes agreement even more powerful when it is reached. I applaud party leaders for setting aside their differences to lay out the common ground on climate action that exists between Labour, Liberal Democrats and Conservatives. Investors should take reassurance that the UK will remain on its current path to decarbonise its economy irrespective of who wins the election.”

Juergen Maier, CEO, Siemens plc, said:

“The low-carbon transition represents a major economic opportunity and a consistent UK policy framework was a crucial factor in Siemens’ decision to make a multi-million pound investment in wind turbine production and installation facilities in Hull. This demonstration of cross-party support sends a clear message that the UK remains a good place for global companies to do low-carbon business.”